SAT allows Zee to proceed with Rs.3,143-Cr fundraise

The Securities Appellate Tribunal (SAT) has granted interim relief to Mumbai-based Zee Entertainment Enterprises , allowing the company to proceed with its proposed INR 3,143 crore fundraise. This permission is conditional upon the company depositing the full penalty imposed by the Securities and Exchange Board of India (Sebi) within one week. The tribunal also extended the deadline for the issuance of warrants by one week from 14 August.Zee Entertainment intends to use the capital to increase the promoter stake from approximately 4% to 23.79%. Regarding operational liquidity, the tribunal permitted the media group to transact in its mutual fund investments to cover routine business expenses, such as film production, vendor payments, and creditor obligations.Sebi had barred the company from accessing the securities market for two months and imposed a one-year ban on promoter Subhash Chandra and CEO Punit Goenka.